The Deutshe Bundesbank has responded to inquiries regarding holding the majority of Germany’s gold reserves in Paris, London, and New York.
The Bundesbank is apparently attempting to calm the panic over Germany’s gold instigated by the Federal Accountability Office, stating,
”We do not have the slightest doubt that our holdings in New York and Paris are also made up of the purest fine gold. We have at our disposal fully documented lists of the bars, and our partner central banks send us every year confirmation not only of the bars’ existence but also of their quality.’We had nothing but the best of experiences with our partners in New York, London and Paris...
There was never any doubt about the security of Germany’s gold. In future, we wish to continue to keep gold at international gold trading centres so that, when push comes to shove, we can have it available as a reserve asset as soon as possible.
For years, our gold has been stored by the highly esteemed central banks of the United States, Great Britain and France without provoking any complaints whatsoever – not by just any fly-by-night operators. Part of the debate in Germany has veered somewhat towards the absurd.”